The world's power demands are expected to rise 60% by 2030. With the worldwide total of active coal plants over 50,000 and rising, the International Energy Agency (IEA) estimates that fossil fuels will account for 85% of the energy market by 2030.
World organizations and international agencies like the IEA are concerned about the environmental impact of burning fossil fuels, and coal in particular. Electricity generation using carbon-based fuels is responsible for a large fraction of carbon dioxide (CO2) emissions worldwide; and for 41% of U.S. man-made carbon dioxide emissions.
Increased concentration of carbon dioxide in the atmosphere assist climate change including global warming; concern over the rate of climate change has led to targets to stabilize or reduce carbon dioxide and other greenhouse gas (GHG) emissions by between 25 and 40% by 2020. Fossil fueled, especially coal-fired, plants make reductions difficult. Emissions may be reduced through more efficient and higher combustion temperature and through more efficient production of electricity within the cycle. Carbon capture and storage (CCS) of emissions from coal-fired power stations is another alternative but the technology is still being developed and will increase the cost of fossil fuel-based production of electricity using existing technologies. Existing CCS technologies may not be economically viable, unless the price of emitting CO2 to the atmosphere rises. (Portions cited from Wikipedia.org).
The inventors have recognized a unique solution to the above mentioned issues as well other problems and difficulties associated with carbon capture from prior art power plants. Accordingly, the inventors have devised the present invention which allows generating clean electric power from carbonaceous material such as coal, biomass, etc. If biomass is used, the present invention actually reduces CO2 from the atmosphere.
It is against this background that various embodiments of the present invention were developed.